The problem for Greece is that a euro-pegged drachma
would be an easy target for speculators.
There's already a team within the prime minister's office, with staff from the general accounting office, right now working on the drachma
," Haris Theoharis of the centrist opposition party To Potami told the chamber.
HSBC Holdings (LSE: HSBA) has readied a contingency plan for Greece in case the country quits the eurozone and reintroduces the drachma
If Greece runs out of cash, it could be forced to leave the euro, reverting to a grossly devalued version of its old drachma
The four-month-old kittens, who've been named Zorba and Drachma
, were found in a cargo of scrap metal when it arrived in Ipswich from Greece.
The national currency of the 12 countries which have joined the Euro and become worthless on January 1 are Austrian schillings, Belgian francs, Dutch guilders, Finnish marks, French francs, German deutschmarks, Greek drachma
, Irish punt, Italian lira, Luxembourg francs, Portuguese escudos and Spanish pesetas.
These groups are likely to have a total sales of 850 billion drachma
GREECE is on the verge of dumping the euro and going back to the drachma
as it prepared yesterday to default on its loans.
Greece, however, probably has a point with regard to the occupation loan of 8 billion drachma
given to Germany at 0 per cent interest.
Greeks had withdrawn up to 800 million euros ($1 billion) a day from major banks before Sunday's vote on fears a leftist victory would mean a return to the drachma
The UK's HSBC Holding Plc (LSE: HSBA) (NYSE: HBC) (HKG: 0005) has set out contingency plans for its 15 Greek branches to deal with the return of the drachma
, The Independent has reported.
The 12 national currencies being replaced by the euro from January 1 are the French franc, German mark, Spanish peseta, Dutch guilder, Italian lira, Greek drachma
, Irish punt, Austrian schilling, Portuguese escudo, Belgian franc, Luxembourg franc, and Finnish markka.